What can NEM HUB do?
What you can do with NEM HUB is:
- Get rewards by promoting NEM communication
- Get rewards by carrying out NEM marketing support activities
- Other ways to promote NEM
NEM HUB is a third-party service provided by DAO Maker . The autonomous decentralized organization is called DAO, and it is currently in the startup stage. NEM cannot be used with DAO in its entirety. I think it would be better to call it “quasi-DAO”.
3 types of rewards you can get
There are currently three types of rewards in NEM HUB: two types of rewards can be rewarded based on an activity evaluation called “social mining” (calculated once a week), and a fixed reward for completing tasks.
“Social mining” allows you to get XEM based on the results . This is the main reward, which is called “ Workdrop “. After the Symbol starts, you can also get XYM.
NEM Points (NEM Points)
NEM Points (NEM Points) are accumulated through user evaluation and Twitter marketing, which will be described later, but it is not clear how to use them. It is known that it can also be used for calculation when calculating the above work difference.
Other projects using DAO Maker seem to be able to redeem these points for project tokens or Amazon gift certificates. By the way, NEM HUB has received a request to use Amagifu to receive rewards, so it can be used in this way.
Reputation ( Display name history Reputation )
Reputation ( Display name history Reputation) higher, the more rewards from social mining. Reputation can also be obtained in the form of rewards.
Get rewards from three ways
NEM HUB has three main types of activities. If anything, the marketing elements that promote NEM communication and awareness seem to become stronger.
“ Mission “ is a fixed reward project issued by the NEM HUB working group and NGL , and consists of communities in each country.
Various topics will be provided, such as writing articles about NEM and Symbol, disseminating official information and tweets, creating designs, creating images and videos, etc. Perhaps the question of “building a test node” as a theme will appear as a rewarding theme.
Since the theme comes from each country, it can challenge the theme of other countries. You can get a fixed number of XEM/credit/NEM points according to the theme.
When other users voluntarily evaluate the “ activity “ you report , you will be rewarded.
The number of votes is distributed to users through influence (impact score) described later, and NEM points can be obtained by Upvote numbers with well-rated votes .
The number of votes that can be voted per day or once depends on the user status. You can also earn NEM points by voting on someone’s activities, which is the motivation for mutual evaluation.
You can share your thoughts about NEM and Symbol, for example:
- Wrote an article about the history of NEM
- organize gathering
- I came up with an idea
- Develop or are developing an application
- Analyze XEM price trends
Other users will judge how much they have contributed, but I think it will also judge the effectiveness of marketing, so the common denominator for higher ratings may be, such as how many people can be attracted, etc.
You can also cast a bad rating on information that seems to have little contribution (such as little or unrealistic information ) . This rating is called Downvote, so if good governance is effective, you will make money by doing the right thing. .
NEM points can be obtained by linking Twitter accounts and taking measures. Is this the easiest way ?
Specifically, these are two actions (forwarding the specified tweet):
- NEM official tweet
- Tweets with the label “#nem #xem #symbol #xym”
Behind the scenes, an algorithm is working so that spam tweets cannot get points, not all tweets are evaluated and scored, but it seems that after a certain period of time, points are added to judge the quality of the tweets. For tweets that are determined to be points, the higher the degree of participation (number of likes + number of retweets), the higher the score.
How to join NEM HUB?
Anyone can participate by simply registering for NEM HUB. Usually, you need to prove your XEM holdings to get rewards .
So-called “custodian wallets (types where users do not manage their own assets)” such as exchange wallets are useless, so it is necessary to prove ownership of other wallets.
- Enter and update your wallet address on the profile screen
- The address needs to have 4000 or more XEM
- Send 0XEM from this address to the specified address and prove the owner
- After the transaction is approved, verify (confirm) on the profile screen and complete
This is safe because you don’t need to create or store a private key , just check the balance
Influence ( Influence )
NEM HUB has an “ Influence Score “ and in order to measure it, proof of holding balance is required. Depending on the number and holding time of XEM , the “Investor Index” will increase and the impact will also increase. When the influence is high, what can you do:
- The ability to evaluate others’ activity reports will be improved (the number of votes in favor will increase)
- Conversely, the evaluation of bad activity reports will be lower (the number of votes in favor will increase)
This is easy to explain, which means that people with more and longer XEM will have more value than others, and therefore will be able to get more votes.
However, this may lead to a vicious circle in which people with high influence will come together and will only continue to evaluate the users they prefer.
In order to prevent this, it is said that users with higher scores (Rep will be described later) are designed to improve the “Preference Index” and increase “influence” .
You may have noticed that you have a good understanding of NEMber, but the idea is similar to Symbol’s consensus algorithm “PoS+” . Even if you don’t really want to get paid, correctly assessing the behavior of other users will polish their marketing activities and contributions. As a result, the spread of NEM/Symbol will be strengthened and its value will be sharpened, so we encourage you to actively participate!
Reputation ( Display name history Reputation )
This score comes from clearing things like fixed tasks and seems to have the biggest impact on the rewards you get from social mining . It seems that the more active this number is, the greater the influence.
If the Rep you get exceeds a certain value (>=0.4), you can use Referral (recommended system), and you can get referral rewards.
How to get more work drops?
- First, gain more reputation and NEM points through your activities.
- For this, please obtain a large number of Upvote from users with high influence (influence score) or a large number of users.
- It is also important to evaluate the activities of others, so it is important.
- In addition, if you participate in the task, you will get a fixed number of work drops, so please participate as much as possible.
Finally, what happens when NEM HUB is activated?
Although NEM HUB has started testing, I have seen the “I have more information about NEM and Symbol on SNS”.
If NEM HUB is used effectively, it will increase information dissemination and understanding of NEM/Symbol.
So far, I have had little opportunity to consider using cryptocurrency , but it will become a reality to change the “Let’s use community power for marketing!” activity evaluation to XEM .
How much XEM you can earn depends on you, the NEM holder and NEM/Symbol.
Although NGL will provide a compensation budget, the total budget is small at the beginning and will be steadily increased in the future